Published on March 27th, 2014 | by The GC Team0
UK retail figures show volume and value sales growth
Year-on-year estimates of the quantity of goods bought in retail continued to show growth in February, according to the latest data.
The Office for National Statistics today said the figure increased by 3.7% compared with February 2013 and by 1.3% on January 2014.
The three-month on previous three-month movement in purchases showed continued growth for the twelfth consecutive period – the longest period of sustained growth since November 2007 – increasing by 1.6%.
The average price of goods sold showed deflation of 0.2% with fuel providing the greatest contribution to this, at 4.4%. The last time store price deflation occurred was September 2009 (0.8%) when fuel was again the main contributor at 5.8%.
The ONS reported that the amount spent in retail increased by 3.5% compared with February 2013 and by 1.3% on January 2014. Non-seasonally adjusted data show that the average weekly spend in February 2014 was £6.6 billion compared with £6.3 billion in February 2013 and £6.4 billion in January 2014.
Online sales spend grew by 12.4% compared with February 2013 and by 2.5% on January 2014.